Consumer Durable Shined; Market Stable

Consumer Durable Shined; Market Stable

Consumer Durable Shined

Share Market News 04 August 2017

The market opened negative on profit booking in pharma sector but market gained on a positive side due to a huge buying that was seen in consumer durable stocks. The index gained 4.21% in today's market. Metals and oil and gas sector also gained in today's market. Due to decreasing inflation, increasing FDI inflow and decreasing oil prices rupee has closed to 2 years higher level. Sensex gained 87.53 points to 32325.41; Nifty gained 52.70 points to 10066.40.

Top Gainers

IOC By 8% to 418, BPCl By 5.87% to 518.75, Tata Steel by 3.84% to 580.80, Eicher Motors By 3.17% to 31700 And Coal India By 3.08% to 249.20.

Top Losers

Dr.Reddy by 3.70% to 2338, Tata Power by 2.96% to 80.20, Aurobindo Pharma by 2.24% to 724.70, Sun Pharma by 2.24% to 724.70 And Bosh Ltd.by 1.58% to 24458.05.

Analysis of Top Gainer and Loser

Indian Oil Corporation Limited (IOC) is the Top Gainer in today's market as its numbers beat the estimate of the analysts as it was estimated around 3,063 crore but actual numbers came is Rs. 4,549 crore in first quarter of FY17 compared to Rs. 8,269 last year a 45% down. The new kerosene policy is also going to benefit the profit margin of the company.

Dr Reddy is the top loser in today's market as the stock has been plunging since the bad numbers of the first quarters.

Key Market News-

There is positive news for handloom sector as the government has announced a 6,000 cr subsidy to encourage handloom industry in India and abroad.

PNB presented very good numbers this quarter as it registered 12% increase in net profit at Rs. 343 crores during the first quarter of 2017-18 compared to the net profit of Rs.262 crore last year. Credit growth grew at 6.8% during this quarter.

Stocks to Watch

IOC is on the upside while Biocon is on the downside.

IOC is currently trading at Rs.418.95, up by Rs.31.90 or 8.24% from its previous closing of Rs.387.05 on the NSE. The scrip opened at Rs.395 and has touched a high and low of Rs.426.80 and Rs.393.respectively. So far 15607606(NSE) shares were traded on the counter. The current market cap of the company is Rs.202879 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.450.90 on 15-May-2017 and a 52 week low of Rs.268.65 on 15-August-2016.

BIOCON is currently trading at Rs.357, down by Rs.17.85 or 4.76% from its previous closing of Rs.374.85 on the NSE.The scrip opened at Rs 352.40 and has touched a high and low of Rs.359.60 and Rs.346.50 respectively. So far 9593344(NSE) shares were traded on the counter. The current market cap of the company is Rs. 21441 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.438.85 On 17-July-2017 and a 52 week low of Rs 268.11 on 25-July-2016.

 

ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to a pave a smooth road for our clients in the shaky world of stock market. While tracking the mood swings of the market we bring our clients the most rewarding deals.

LEAVE A COMMENT

RECOMMENDED READING

Money Management: The Art & Science Of Wealth Creation

Money needs planning. If not planned well, money evaporates into the thin air without a trace. Have you ever wondered how rich people manage their high life and high expense? How do they afford to drive swanky cars, enjoy foreign vacations and
Read More>>

Sensex & Nifty At All-Time High Despite Rising Inflation & Falling Rupee

Our Analysis This week, the market witnessed profit booking above Nifty's 11K mark ahead of No-Confidence motion moved in the parliament. Also, Inflation continued to hit high but Q1 ea
Read More>>

Free Share Market Tips Today: Stop & Read Before You Invest In Stocks

Various popular stock market news portals and TV channels discuss trending stocks and provide free share market tips based on technical charts and often without in-depth research. Our research desk analyses these trending stock market tips and pro
Read More>>

Looking For Multibagger Stocks? Here’s How To Find Them

What Is A Multibagger Stock? If you are a stock investor, you don't need any introduction to the word multibagger. A multi-bagger stock is the one whose value has risen multiple times and it has given manifold growth on the capital invested. <
Read More>>

Sensex At All-Time High, Nifty Above 11K; Reliance & IT Shine

Our Analysis This week market started inched higher as Sensex hit all-time high & Nifty well above the 11,000 mark led by heavyweights like Reliance TCS, HDFC twin. The earnings season
Read More>>